WINDHAM, N.H. — President Barack Obama unveiled a brand new attack on Mitt Romney‘s taxes here in New Hampshire today, charging that Romney will only pay 1 per cent under vice presidential nominee Paul Ryan’s budget plan.Here’s the key part of his speech to the enthusiastic crowd in Windham High School:
“The centrepiece of my opponent’s entire economic plan is a new, $5 trillion tax cut, a lot of it going to the wealthiest Americans. And his new running mate, Congressman Ryan, put forward a plan that would let Governor Romney pay less than 1% in taxes each year. Here’s the kicker: he expects you to pick up the tab. Governor Romney’s tax plan would actually raise taxes on middle-class families with children by an average of $2,000. Not to reduce the deficit, or grow jobs, or invest in education but to give another tax cut to people like him.
“Ask Governor Romney and his running mate when they’re here in New Hampshire on Monday if they think that’s fair. Ask them how it’ll grow the economy, or strengthen the middle-class. They have tried to sell us this trickle-down fairy dust before. It didn’t work then and it won’t work now. It’s not a plan to create jobs. It’s not a plan to cut the deficit. And it’s not a plan to move our economy forward.”
The bolded lines drew a sharp rebuke from the crowd, which seemed somewhat stunned at Obama providing them with the information.
The charge comes from Ryan’s description of his budget plan, which proposes to eliminate taxes on interest, capital gains, and dividends — most of Romney’s sources of income.
But it’s important to remember that Romney is the name at the top of the ticket running for president, and he has said that he supports maintaining current tax levels on interest, capital gains and dividends.
Romney campaign spokesman Ryan Williams responded to news of Obama’s comments by saying that Romney would eliminate these types of taxes on the middle class.
“The fact is President Obama wants to raise taxes on private investment and job creators, which will lead to higher unemployment and fewer jobs,” Williams said. “The Romney-Ryan Plan eliminates taxes for the middle class on interest, dividends and capital gains and implements pro-growth policies to deliver more jobs and more take-home pay for middle-class families.”
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